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RNS
Pitombeiras Update
Successful Extraction of Titanium Dioxide & Vanadium Pentoxide
Jangada Mines plc, a natural resources development company with interests in Brazil and elsewhere, is pleased to announce that it has received positive test results regarding the extraction of high-grade titanium dioxide ('TiO2') and vanadium pentoxide ('V2O5') from its Pitombeiras vanadium titanomagnetite ('VTM') project in Brazil ('Pitombeiras' or 'the Project').
The tests were carried out by Zambian consulting firm, YCS Sustainable Solutions Limited, utilising the proprietary technology developed by Fodere Titanium Limited ('Fodere'), in which Jangada holds a 7.7% interest. The work is part of the Company's strategy to optimise the value of the Project by applying innovative processing technology while also improving its Environmental, Social and Governance ('ESG') credentials.
By working closely with Fodere, the Board recognised that its sustainable technology, initially developed to treat low-grade and complex titanium-bearing feedstock, could be applied to and improve the economic potential of Pitombeiras. The highly energy efficient technology maximises resource recovery, improves processing effectiveness, reduces costs compared to regular processing routes and importantly, minimises waste improving environmental credentials and enhancing ESG performance.
Five samples, delivered by Jangada from various locations at Pitombeiras, were crushed, ****genised, and milled. The samples were then subjected to magnetic separation. Preliminary test works concentrated the Fe2O3, TiO2 and V2O5 with all upgrading well and excellent recovery and purity rates reported, the highest recovery rates being 86.73% TiO2, 91.19% Fe2O3, and 95.88% V2O5.
With the adaptation of Fodere's technology to successfully process ore from Pitombeiras, Jangada is now preparing 25 tonnes of material to be tested on a larger scale in order to finalise a commercial flowsheet and provide in-depth economics for a Preliminary Economic Assessment ('PEA') focussed on the extraction of TiO2, V2O5 from Pitombeiras utilising Fodere's technology. This is anticipated to improve the already robust economic studies carried out on Pitombeiras that were announced on 21 April 2022 with headline figures of 100.3% post-tax Internal Rate of Return, a US$96.5 million post-tax Net Present Value (8% discount rate), a US$145.9 million post-tax undiscounted operating cash flow, and a 13-month payback.
The Company remains focused on commodities that are critical in the energy transition and drive the
circular economy. The strategic investment in Fodere was enacted as it represented an opportunity to capitalise on a new environmentally improved solution that extracted TiO2 and V2O5, two of the three major mineral components of the Company's Pitombeiras project. The Board believes that these test results have vindicated its investment decision. Importantly, J
A game changer?..it certainly has all of the ingredients to be considered so and perhaps the most material news in last 18 months or more,..GL S
It’s what I’ve been wanting to see for years. Definitely game changer.
As reminder of how new tech such as fodere can affect economics I’d suggest people watch the presentation below on alternative tivan tech. Can skip to 4 minutes 20 seconds in and watch for 5 minutes.
https://www.youtube.com/embed/r1BZ39B-p-o
"100.3% post-tax Internal Rate of Return, a US$96.5 million post-tax Net Present Value (8% discount rate), a US$145.9 million post-tax undiscounted operating cash flow, and a 13-month payback" Drops mike,and waks off stage....!.
Should get separate vanadium product using fodere tech. 100% vanadium credit rather than just 25% that we get in the concentrate.
Also note we’ve exclusive rights to the tech in S America. When the ex Tronox guy joined last year and got N America rights I did post saying hoped we’d get S America as part of our strategic investment.
I’m in the office today so can’t post much until after work. Will out something more coherent together then
Don't be so impatient.
If the we get top results from the 25ton sample, it could burst it's way to 4p!
;)
don't be so impatient? , i was in the placing at 12p!!!!!!!!!!!!!!!!!!!!!!!
Good news at last. I might re look at it now.
But still a long way. Testing, new process funding.
Best news in long time. Wish they did this earlier
Thank you Brian! And swizz is alive and well!
@amin0406
I hope you realise my reply was somewhat tongue-in-cheek :)
Like I said yesterday, it's gonna take something special to get this really moving but today's RNS is a welcome update.